Four key lessons from Anglo case
The Anglo trial raises the question: can legal advice make legal a transaction that is on the edge of legality? Niamh Brennan reports.
Reflecting on the Anglo case, and this week's sentencing of two executive directors for lending company money to the Maple Ten to buy shares in Anglo itself (called a share support scheme), four key issues come to mind: the importance of board independence, the distinction between executive and non-executive directors, the question of whether directors can rely on the advice of experts, and moral hazard.
The problem with companies, especially publicly listed companies, is that...
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